The Herald Investment Trust (HIT) seeks to achieve capital appreciation through investments in smaller quoted companies, in the areas of technology, communications and multi-media. Investments will be made throughout the world.

The Herald Worldwide Technology Fund (HWTF) is an Open Ended Investment Company (OEIC) which seeks to achieve capital growth, in excess of the average, by investing in quoted companies in the technology, communications and multi-media sectors.

Team

Katie Potts

The Managing Director and also the lead fund manager for Herald Investment Management Ltd. She established HIML in December 1993 to manage Herald Investment Trust plc which was launched in February 1994.

Katie read Engineering Science on a GKN Group scholarship at Lady Margaret Hall, Oxford. She worked for five years in investment management at Baring Investment Management Limited, before joining S.G. Warburg Securities’ UK electronics research team in 1988. The team was consistently voted top team in the Extel survey of analysts in the sector, and she was voted top analyst by finance directors of electronics companies canvassed by the Treasurer magazine. In addition Katie had responsibility within S.G. Warburg’s UK research department for commenting on accounting issues.

She is supported in managing the funds by a team of six investment professionals and three consultants.

Fraser Elms

Fraser joined HIML in May 2000. He has lead responsibility for the Herald portfolios’ Far East exposure. He also has analytical responsibility for the global communications and networking industries. He has over nineteen years of fund management experience and is Deputy Manager of the Herald Investment Trust.

Prior to joining Herald, Fraser was a technology analyst with Dresdner Kleinwort Benson, where he covered the European technology sector. Before this he worked at Prudential for three years as member of a team of three UK unit trust fund managers that managed £5bn in equities, with Fraser having lead responsibility for three funds collectively worth £400m. He graduated from Lancaster University with a degree in Economics and initially joined Prudential as a product manager for their Unit Trusts, before completing an MSc in Investment Analysis at the University of Stirling and re-joining Prudential in an investment role. Fraser covers the semiconductor sector.

Taymour Ezzat

Taymour joined HIML in November 2004. He is a portfolio manager on the Venture funds, sitting on the venture committee, and taking lead responsibility for a number of the investments in the venture portfolios. He also has analytical responsivity for the media sector. He has joint responsibility for the European portfolio.

Previously he spent a year appraising a number of venture capital opportunities for E.D. Capital Partners. Prior to that, Taymour had spent six years at Northcliffe Newspapers, the regional newspapers division of Daily Mail & General Trust (DMGT), latterly as Finance Director of its electronics publishing arm. Beforehand, Taymour worked for Reuters in London and Eastern Europe for four years. He qualified as an accountant with Price Waterhouse, and studied Economic History at the London School of Economics and Political Science.

Hao Luo

Hao joined HIML in 2004 and works with Fraser Elms managing the Far East portfolios. He also has analytical responsibility for the manufacturing sector globally. He obtained a BA in Economics from Hunan University in China and a Masters degree in Finance from Manchester University. He worked for J&A Securities in Shanghai from 2000-2002. Hao is a CFA charterholder.

Peter Jenkin

Peter joined HIML as an analyst in 2015. Peter covers the software sector and contributes to the overall investment selection. He has joint responsibility for the European portfolio. Peter has a CFA qualification and before joining Herald he studied Construction Engineering Management at Loughborough University.

Bob Johnston

Bob joined in 2016 to establish a US office in New York. He has more than 20 years experience in the technology sector on the sell-side, and he has worked with the Herald team for roughly 15 years. Most recently, Bob was with the technology specialist Pacific Crest, and prior firms that he worked for include Hambrecht & Quist and SoundView Technology. Bob has taken responsibility for telecommunications, networking and security analysis. US companies do not come to the UK as they used to, and Herald feels it necessary to have a US presence to enable maintenance of frequent contact with companies.

Danny Malach

Danny joined HIML in June 2016 and since obtaining the Investment Management Certificate in April 2017, has acted as the funds dealer. He obtained first class honours in his BA in Accounting at Northumbria University and subsequently achieved a merit in his MSc in International Economics and Finance at Newcastle University.

Consultants

John Booth

John is a non-executive director of Herald Investment Management Ltd and acts as a consultant to the Herald Venture Partnerships. He is Executive Chairman of Link, an ICAP Group company, which he co-founded, and has spent his career in the equity markets culminating as Managing Director and Head of International Equities at Bankers Trust before establishing Link in 1997. In the investment sector he is also Chairman of Integrated Asset Management plc and a non-executive director of Oldfield Partners Ltd. He also serves as non-executive Chairman of Maintel Holdings plc and Jazz FM and holds a number of other non-executive directorships. He is a member of the Chancellor’s Court of the University of Oxford and the General Synod of the Church of England and is trustee of various charities.

Richard Cunningham

Richard is a consultant on the venture capital committee, and sits as a non-executive on a number of investee companies. He joined Project Telecommunications Ltd as Joint Managing Director in 1991 shortly after its formation and was responsible for finance, technology and operations. Project Telecommunications Ltd became a wholly owned subsidiary of Project Telecom plc which was floated on the LSE in 2000. Richard became the Group Finance Director. He was central to the growth of the company from its embryonic stage through its flotation in 2000 to its eventual sale in 2003. The company was acquired in September 2003 for £162m in cash by Vodafone plc. He left the company upon completion of its sale choosing to spend a significant proportion of his working month as a consultant to HIML on Herald Ventures II. Previously Richard was Vice President of Citicorp Investment Bank, specialising in European electronics and telecommunications having had experience of equity analysis and corporate finance at Citicorp Scrimgeour Vickers.

Aidan Paul

Aidan is a consultant on the venture capital committee, and sits as a non-executive on a number of investee companies. He is the founder and CEO of Vtesse Networks Limited, a specialist provider of very high capacity optical networks. Aidan was formerly UK Managing Director for Alliant Partners, the technology M&A subsidiary of Silicon Valley Bank. Prior to that he was Director of Corporate Finance for Technology and Telecommunications at Robert Fleming. He held previous positions at the PA Consulting Group, BICC and GEC in consulting, product planning and design, in communications, optical and medical electronics. He is a Chartered Engineer and a Chartered Management Accountant.

Have you received calls or emails from people claiming to represent Herald Investment Trust? They don’t! It’s a scam.

They’ll say they can get back – for an upfront fee – money you lost investing in binary options and carbon credits or in unregulated investment schemes now being wound up in the High Court - like Essex & London Properties, African Land, or Manor Rose Limited. They can’t! Don’t send them any money! Call Herald Investment Management immediately on 020 7553 6300 and ask to speak to one of our compliance team.

Warning issued 28th August 2019

Welcome to the website for Herald Investment Management Limited (HIML). These pages provide a brief introduction to HIML and details of the funds it manages, currently Herald Investment Trust Plc, the Herald Worldwide Technology Fund and two venture capital limited partnerships.

These pages are regularly updated to include up-to-date financial and performance data, but please feel free to contact us with comments, or to request further information. It is important that you read the notices below before proceeding, as they explain certain legal and regulatory restrictions which apply to the information contained in this website.

The information provided in this website is solely for use by individuals who are resident in the United Kingdom and who are subject to UK tax; it is not intended as, and should not be regarded as, an offer or solicitation to sell investments in any jurisdiction other than the UK. Individuals who are not resident in the UK should not continue as it may be contrary to local laws or regulations for them to receive information in connection with, or to apply for, a UK investment. In particular, Herald Investment Trust Plc shares are not registered under United States securities law and, subject to limited exceptions, may not be offered, sold, transferred or delivered in the United States or to US persons. By proceeding, you are representing and warranting that you are not resident in, or a citizen of, a jurisdiction outside the UK.

Stock market and currency movements may cause the capital value of shares and the income derived from them to go down as well as up, and investors may get back less than they invested. Past performance is not necessarily a guide to future performance. The value of any tax relief you may be entitled to will depend on your individual circumstances. Current tax rates and reliefs may be changed by future legislation.

This website has been approved for purposes of UK regulation by Herald Investment Management Ltd which is authorised and regulated by the Financial Conduct Authority.

Although we have taken reasonable care to ensure that the facts contained in these pages are accurate, no representation or warranty, express or implied, is made as to their accuracy or completeness. The contents of the website are not to be considered as investment advice.

The information on this website is not for distribution outside the UK. Under no circumstances should this information, or any part of it be copied, reproduced or redistributed. No rights of any kind are licensed or assigned or shall otherwise pass to persons accessing this information.

If you are in any doubt about any of the information contained on this website please consult your stockbroker, solicitor, accountant or other professional adviser.

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